HKMA: offshore markets can help boost currency trade
A paper published by the Hong Kong Monetary Authority (HKMA) in March shows that offshore markets can help to increase the recognition and acceptance of emerging-market currencies, while still allowing the authorities to retain a measure of control on the pace of capital account liberalisation.
Senior officials at the HKMA have repeatedly sought to promote the territory as the offshore renminbi market.
Offshore markets play essential economic functions, including a separation of currency risk
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